Tag: Man United sale

LONDON: Manchester United have reportedly opened talks with Qatari investors as speculation intensifies over the future ownership of the Premier League giants ahead of a deadline for bids.

The American Glazer family, who completed their takeover of the 20-times English champions in 2005, announced in November that they were open to a sale or investment.

British billionaire Jim Ratcliffe’s Ineos company officially joined the race to buy the club last month — the only bidder to publicly declare an interest so far.

Potential buyers are understood to have until February 17 to table offers.

The Daily Mail said a group of private investors from Qatar want to buy United and talks have taken place with the club’s hierarchy, confident that theirs would be the strongest bid.

The Guardian reported that Qatar’s ruler, Sheikh Tamim bin Hamad Al-Thani, was interested in buying United, just weeks after the energy-rich Gulf state hosted the World Cup.

But the emir bought French champions Paris Saint-Germain in 2011 through Qatar Sports Investments (QSI) — meaning a full buyout of United would not be permitted under current UEFA regulations.

Britain’s Press Association said QSI was considering the purchase of a minority stake in United or another Premier League club.

The organisation is a subsidiary of the Qatar Investment Authority (QIA), the country’s sovereign wealth fund, which has assets worth hundreds of billions of dollars.

The chief executive of the QIA, Mansoor Al-Mahmoud, told Bloomberg last month: “Sovereign wealth funds are becoming investors in some of the clubs and you will not be surprised if we invest in this (area) but again we go into a very fundamental process and making sure if we invest this is very commercially driven for our future generations.”

Amnesty International said Qatari interest in United should act as a “wake-up call” to the Premier League over its ownership rules.

“Coming in the wake of the World Cup and strenuous efforts from the Qatari government to fashion a glitzy new image for the country, it seems highly likely that any Qatari bid for Manchester United would be a continuation of this state-backed sportswashing project,” said Peter Frankental, Amnesty UK’s economic affairs director.

He added: “We’re not necessarily opposed to the involvement of state-linked overseas financial consortia in English football, but the Premier League must urgently strengthen ownership rules to ensure they’re human rights-compliant and not an opportunity for more sportswashing.”

The unpopular Glazers saddled United with huge debts and further angered fans by backing the failed European Super League project in 2021.

The club have not won the Premier League since 2013 and have failed to win any silverware since 2017.

United are third in the Premier League this season after an improvement in form under manager Erik ten Hag, who took over before the start of the current campaign.

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MANCHESTER: Manchester United’s owners said Tuesday they were ready to sell the club, potentially bringing down the curtain on an acrimonious 17 years under the Glazer family.

On a tumultuous day for the English giants, it was earlier revealed that star player Cristiano Ronaldo has left the club with “immediate effect.”

Weeks of turbulence appeared to have come to an end when United announced Ronaldo’s contract had been terminated by mutual agreement to bring to an end his second spell at Old Trafford.

That dramatic announcement was eclipsed just hours later by the news the US-based Glazer family could also be on their way out.

“The board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company,” United said in a statement.

The Glazers have been unpopular with supporters ever since a £790 million ($934 million) leveraged takeover in 2005 burdened the club with huge debts.

Frustration towards the Americans has only grown during a nine-year decline in results on the pitch since Alex Ferguson’s retirement as manager in 2013.

The Red Devils have not won the Premier League title since Ferguson’s final campaign in 2012/2013 and have failed to win any trophy since 2017.

United currently sit fifth in the Premier League, 11 points behind leaders Arsenal.

“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future,” added Avram and Joel Glazer, the club’s executive co-chairmen and directors.

The statement also recognised the need for investment in stadium redevelopment.

Old Trafford remains the largest club stadium in England with a capacity of 74,000 but has not had a significant upgrade since 2006.

Ronaldo departs

Erik ten Hag is the fifth permanent manager at Old Trafford in the past nine years and his early months in charge have been dominated by debate over Ronaldo’s place in the team.

The five-time Ballon d’Or winner had been used sparingly by the former Ajax boss in the Premier League.

Ronaldo reacted with an explosive interview on TalkTV last week in which he said he felt “betrayed” by the club and had no respect for Ten Hag.

The Portugal captain, who is currently competing in his fifth World Cup, also took aim at the Glazers, claiming they “don’t care about the club”.

“Cristiano Ronaldo is to leave Manchester United by mutual agreement, with immediate effect,” United said in an earlier statement.

“The club thanks him for his immense contribution across two spells at Old Trafford, scoring 145 goals in 346 appearances, and wishes him and his family well for the future.”

News of the Glazers inviting investment comes just weeks after Liverpool’s American owners, the Fenway Sports Group, indicated they were willing to sell.

Both United and Liverpool were involved in the failed European Super League (ESL) project that sought to create a US-style closed league format for Europe’s elite clubs without the need to qualify or promotion and relegation.

Amid a furious backlash to the ESL, a match between United and Liverpool was abandoned in May 2021 after supporters stormed the pitch at a time when fans were shut out of stadiums due to coronavirus restrictions.

Protests against the Glazers have continued to be common on matchdays at Old Trafford despite huge spending on player transfer fees and wages, including on Ronaldo’s homecoming.

In May, Premier League rivals Chelsea were sold for £2.5 billion ($3 billion), a record for a football club, to another American consortium led by Todd Boehly, with a further investment of £1.75 billion promised on the playing squad and infrastructure.

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